World Energy NewsVenezuela's Oil Exports Drop By 20% After Chevron
Chevron missed a deadline set by the U.S. Treasury Department on May 27, to end oil operations in the OPEC nation and stop exports. The country has been subject to U.S. sanctions
Venezuelan oil production may tumble 20% by the end of 2017 Nation is home to the world's largest proven oil reserves Published: March 2, 2017 at 3:11 p.m. ET
Venezuela loses 20% of oil exports after cargo cancellations
Venezuela's oil exports fell almost 20% to some 700,000 barrels per day (bpd) in April, the lowest level in nine months, as cargo cancellations to U.S.-based producer Chevron forced
. Venezuela released an American citizen on the same day the U.S. was set to give Chevron another 60-day waiver to operate in the country, part of a push by
New York TimesHow Venezuela's Oil Industry has Devastated the Environment
After grinding nearly to a halt, the oil sector has seen a modest rebound, in part because the Biden administration last year allowed Chevron, the last American company
Chevron's exports of Venezuelan crude to the U.S. plummeted 69 per cent to some 66,000 bpd due to PDVSA's measures. However, other customers of the state company,
Institute of the Black World 21st CenturyOil History in Venezuela Institute of the Black
At that time, Venezuela was known more for its agricultural production than for its oil production. In fact, Venezuela was an underdeveloped country with several political problems. In 1908 General Juan Vicente Gomez
Venezuela has larger oil reserves than Saudi Arabia. The country only produces 20% of Saudi Arabia's production level. Venezuela needs higher oil prices for success this may result in increased
Venezuela Could Boost Oil Output If U.S. Sanctions Are Eased
Even if US sanctions on Venezuela were lifted, the South American country would only be able to raise its crude oil production by 200,000-250,000 barrels a day (b/d) by 2025
The company's oil production, which is operated through joint ventures with state-controlled Petroleos de Venezuela SA, totaled more than 200,000 barrels a day as of mid-2025 . It
BloombergA Timeline of Venezuela's Economic Rise and Fall
Venezuela's economic fortunes have been tethered to the price of oil for most of the country's modern history, a dependency that only worsened after a charismatic former
Venezuelan economy led to a real-terms drop of 4% in the receipts of the tax authority in 2021 compared to 2020. Oil sector tax receipts grew primarily because of the higher price of
Oil production in Venezuela 2008-2025 Statista
Other statistics that may interest you Oil industry in Venezuela. Overview (June 20, 2025 ). Oil production in Venezuela from 2008 to 2025 (in million barrels per day) [Graph].
The first round of sanctions blocked U.S. firms from buying Venezuelan debt, which accelerated a sovereign default at the end of 2017. 59 Sanctions imposed in January 2019
Los Angeles TimesTrump ready to end Chevron's access to oil from Venezuela
Chevron's Venezuelan oil production plunged to just 35,000 barrels a day last year, a 20% drop from 2018, and only about 1% of the company's global crude output.
Its oil giveaway program became more of a burden than a boon for the Venezuelan economy as oil prices collapsed toward the end of 2014. Venezuela was giving away over
- Why did Venezuela's oil exports fall 20% in April?
- Venezuela's oil exports fell almost 20% to some 700,000 barrels per day (bpd) in April, the lowest level in nine months, as cargo cancellations to U.S.-based producer Chevron forced ships to return and left some ports empty, ship tracking data and documents showed.
- Will underinvestment limit Venezuela's oil production by 2024?
- Still, years of underinvestment and mismanagement of Venezuela’s energy sector will likely limit crude oil production growth to less than 200,000 barrels per day (b/d) by the end of 2024, requiring more time and investment for additional growth.
- How much oil does Venezuela produce a year?
- Venezuela’s crude oil production has fallen from about 3.2 million b/d in 2000 to 735,000 b/d in September 2023, making it the 10th-largest producer in OPEC despite its significant oil reserves. U.S. crude oil imports from Venezuela similarly declined, falling from 1.3 million b/d in 2001 to about 510,000 b/d in 2018.
- How many oil pipelines are there in Venezuela?
- As of 2023, Venezuela had 25 operational pipelines with a total capacity of 8,969,985 barrels of oil equivalent per day and a total length of 2,139 miles (Table 3). Venezuela relies on an aging pipeline network to transport oil from wells to refineries, with many pipelines estimated to be more than 50 years old.
- Does Chevron still operate in Venezuela?
- Starting in June 2022, tankers transported Venezuela’s crude oil into Spain and Italy for the first time in over two years. In November 2022, OFAC granted Chevron a temporary license allowing it to resume operations in Venezuela at its four joint ventures with PDVSA.
- Why is Venezuela struggling with oil & natural gas development?
- Furthermore, budgetary constraints at Venezuela's state oil company PDVSA and a lack of qualified technical personnel and foreign direct investment have all hampered Venezuela’s oil and natural gas development. PDVSA is the largest source of revenue for the Venezuelan government.
